New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-02-17
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CLOSING PRICES OF CALIFORNIA STOCKS
SAN FRAScrsco, Feb. 16. 1887
WEDNESDAY. Feb. 16-P. NJ.


a constant reader-w NJ. D." makes the point that
In remarks Of last evening the possible export OF
gold during the coming spring and its effect We omitted
to direct attention to the count product OF gold during
the last twelve the that there Is some
S3000O000 more silver money In the country now than
there a year ago. which would I'll the vacuum even
OF large exports OF gold made in the first SIX
months of 1886" The point is well taken In some re-
spects But il W NJ d. had been careful reader OF our
analysis OF Treasrys monthly for several
months past he would have discovered that his point had
been covered He In however In supposine 'ha o
whole amount of $4,000 900 OF additional silver COLI
has been added to the general circulation In our
issue OF February showed that the net cash In 'e
Treasury vautt January 81, 1887, was 800 ooooo
greater than that January 81. 1886 deducting hac
from the amount Of the years silver coinage gives
the addition 10 the general circulation OF legal money
only S91O0000 to this may be added the sum OF ono
years product OF gold and 800 900 net gold imports TOT
the twelve months less whatever amount OF gold mas
been used in the arts But 1t must not be rorgot'en
that the general expansion OF trade all over the country
Is employing a much larger amount Of money now than
1t was twelve months ago. The loans OF the New YORK
banks s2 900 greater than one wear ago. ana
Is probable that their loans TO the Stock Exchange are
much smaller now than they were one year ago 'er-
tain Is that not in has the demand for time money
from the Stock Exchange been small as Is now ana
loan at per sixty days and Al for six
brokers do not require the offered to them THIS
il another witness Of the changed condition OF affairs
The bulk OF stocks not in the street
When for instance. block OF 1000 shares OF
Lake Shore stock four Ave years ago was held
by Spectator upon margins. there are now forty or
fifty stock holders holding the 900 shares OF stock
fully paid for hore has been such Importation OF
American stocks from abroad during the last month or
six weeks is talked about the absolute lack OF demand
for increased monetary facilities from Stock Exchange
firms Is positive evidence that the stocks imported have
found a odgment with buvers who have paid Tor them
and taken the certificates away. Probably the actual I'M
poration has been multiplied more than four times by
common report.
To-lays stock speculation intensely dull. The
total transactions only $1,000 shares Tho
market opened higher all around on covering OF the
short interest put out yesterday by the board room
traders That being accomplished dulness and moderate
fluctuations OF tire general list followed. or New York
Central 200 shares covered the whole business and OF
Northern Pacific preferred twcniyone shares made mp
tho total sales OF there some stocks which
were marked exceptions from the general market Cen
trail Of New-Jcrsey the side was exceptionally
strong and with only moderate amount OF business rose
from Gg9 10 Il = and closed 7lis On the other side
Richmond and West Point declined from a. 10 l6a l6s
aud Union Pacific was confidently sold from 5js %
down to 54h. closing 3D. Tho sellers OF the last
named stock basnc their operations upon washing
Information OF legislation which Will marx con
sderaby lower prices for the stock :;
aside from the stocks merit and whether It IA
selling above or below its intrinsic value II 20 be- q
fact that under a Influences brought to bear against IT,
the price declines only In response 10 hard labor Tie
short interest 1t daily increases while at the decline
there seems 10 lee a persistent buying. II tho anicl-
patcd adverse legislation by Concrss becomes AN ac
compi,hcd sact it possibly he interesting To watch
the sequel ~ the STOCK Exchange. Tie market closed
quiet aud steady.
Goycrniacnt bonds were aud casy VITA the bids for
the per Annexed the CLOSING quotations;